How many people pass CFA on first try?

Around 40-50% of people pass the CFA exams on the first try, but this varies significantly by level, exam window, and whether it's a first attempt or a deferred one, with recent Level I first-timers often seeing ~50% pass rates, while deferred candidates have much lower rates (around 29-35%). Staying on schedule (not deferring) is a major factor in passing, and Level I generally has lower pass rates than Level II and III.

How many people pass all CFA exams first try?

Apparently only 8 in a 1000 students pass all of CIMA exams in the first try? Archived post.

Is 67% enough to pass CFA?

A 67% score is generally considered strong and likely enough to pass a CFA exam, especially if you have strong scores in key weighted topics, but it's not a guarantee as the Minimum Passing Score (MPS) varies by exam difficulty, with experts recommending aiming for 69% or higher (e.g., 70%+) for a comfortable pass on Level 1 and Level 2 to be safe. While 67% is above the historical average for some levels (like Level 2's 66% average), the MPS can fluctuate, so focus on strong performance across all areas, especially weighted ones like Fixed Income or Ethics. 

How many people fail the CFA?

Since 2014, the historical CFA pass rates for: Level 1 ranges from 22%-49%, with a 11-year average of 41%; Level 2 ranges from 29%-59%, with a 11-year average of 45%; Level 3 ranges from 39%-56%, with a 11-year average of 50%.

Which level of CFA is hardest?

Level I of the CFA Program usually has the lowest pass rate which could imply it's the most difficult exam in the program. However, this will not apply to every candidate because each person will have different strengths and weaknesses.

HOW TO PASS CFA LEVEL 1 ON FIRST ATTEMPT

Which is the 3 toughest exam in the world?

The three toughest exams globally often cited for their extreme difficulty, low pass rates, and high stakes are China's Gaokao (National College Entrance Exam) for its sheer scale and competitiveness, India's UPSC Civil Services Exam for its life-altering potential and minuscule selection, and India's IIT-JEE Advanced (Joint Entrance Exam) for its rigorous engineering entrance criteria, alongside prestigious UK fellowships like the All Souls Prize Exam, with difficulty varying by individual and goals. 

Is 60% enough to pass CFA level 1?

Yes, you can potentially pass CFA Level 1 with a 60% score, as the CFA Institute doesn't have a fixed percentage; the Minimum Passing Score (MPS) varies, sometimes allowing a pass around 60-65% when exams are tough, while other times requiring 70%+ for an easier exam, so aiming higher (68-70%+) is safer, but 60% isn't an automatic fail. 

Is 70 enough to pass CFA level 1?

The CFA Level 1 passing score is not fixed every year, but it usually stays between 65% and 70%. CFA Institute does not publish an official cut-off, but this range is considered the minimum benchmark to pass.

Is CFA level 2 impressive?

The Level II CFA exam is widely considered to be one of the most difficult professional exams. Of the three CFA exams–Level II often claims the title of the most difficult level.

Is CFA or MBA better?

Neither the CFA nor MBA is universally "better"; the choice depends on your career goals: choose the CFA for deep, technical expertise in investment management (equity research, portfolio management) at a lower cost, ideal for specialized roles; choose an MBA for broad business leadership, management, and networking, offering flexibility to pivot industries, but at a much higher cost and time commitment, with top-tier school prestige being key. 

Is 40 too old for CFA?

Is it too late to pursue a CFA at age 40? Not at all. There is no strict CFA age limit, so anyone can start, provided they meet the eligibility criteria. The CFA age requirement is flexible, so it suits people changing careers or with work experience.

Did CFA remove the 90th percentile?

The 10th and 90th percentiles were removed from the report because we have added scale scores. Scale scores add more precision to your results interpretation. The 10th and 90th percentiles only provide a comparison of your result against other candidates in the same administration.

Is CFA harder than CPA?

While both are tough, the CFA is generally considered harder due to significantly lower pass rates (around 13.5% for all levels) and much greater study time (300+ hrs/level vs. 80-120 hrs/section for CPA), requiring mastery of vast financial concepts, whereas the CPA (around 50% pass rate) focuses more on accounting principles and has fewer, though still demanding, sections (4 parts) with generally higher passing chances. The difficulty depends on your background: the CFA tests new, broad finance topics, while the CPA covers a breadth of accounting areas, making each challenging in different ways. 

How many people pass all 4 CPA exams on first try?

Only a small percentage of candidates pass all four CPA exam sections on their first try, with estimates generally falling between 13.9% and 20%, though some older data suggests around 13.6%. While individual section pass rates vary (often 40-70% depending on the section and quarter), successfully completing all four parts on the first attempt is a challenging feat, with many candidates taking longer or needing multiple attempts to pass all sections within the 18-month window, say sources like Accounting Today and UWorld. 

How common is it to fail step 1?

While most people pass USMLE Step 1, failure rates have increased, especially since the scoring change to pass/fail in 2022, with overall pass rates for first-time test-takers dropping, and international medical graduates (IMGs) and repeat test-takers facing significantly lower odds, though the exact number varies yearly, with thousands failing in recent years (e.g., over 11,000 in 2023). For MD students, first-time pass rates were around 90-93% in 2022-2023, compared to 82-83% for DO students and ~72% for IMGs in 2023, with repeaters seeing even lower success.
 

Is BA2 harder than BA3?

BA2 is called Fundamentals of Management Accounting and logically it is the basis for the further P pillar, so it is not a surprise that the pass rates are the lowest. Better results we can see on the BA3 side – Fundamentals of Financial Accounting, which is an introduction to the F pillar.

Does JP Morgan hire CFA level 1?

For investment banks like JPMorgan or Morgan Stanley, CFA charterholders can leverage analytical prowess, particularly in client-facing positions where technical precision matters. In firms like EY and PwC, CFA can make professionals stand out in valuation, due diligence, and merger advisory engagements.

What does Warren Buffett think of CFA?

No Substitute for Independent Thinking: Buffett believes a CFA doesn't make someone a great investor. He values traits like temperament, patience, and independent thought over formal credentials. “It's not necessary to have a high IQ or an #MBA or a CFA.

Is CFA still relevant in 2025?

Yes, the CFA is still worth it in 2025 for the right person aiming for roles in traditional investment management, portfolio management, and equity research, offering unparalleled global recognition, employer trust, and career advancement in a rigorous, time-intensive program, though its value is less emphasized in fast-evolving areas like fintech; its relevance hinges on aligning it with specific career goals, complementing it with practical skills (Python, modeling), and understanding it's a commitment requiring strategic study alongside work experience. 

What is the 90th percentile of CFA?

There isn't a specific 90th percentile score provided by CFA Institute, but it's generally understood that a score in the 85% range is indicative of strong performance, potentially placing a candidate in the top 10%

How many hours to study for CFA?

Due to the vast material covered on the exams, the CFA® Institute suggests that candidates begin to prepare for each Level at least six months in advance, and recommends approximately 300 study hours per exam.

Can I say I passed CFA level 1?

If you are currently a candidate in the CFA Program:

Include your participation in the CFA Program in the education section of your resume. (For example: “CFA® Program participant, CFA Institute.”) You may also list the levels completed. (For example: “Completed Level I in 2020.”)

What if I fail in CFA level 1?

The CFA Institute lets you register for another sitting as early as the next cycle. However, be aware that you must pay the exam fees again. Yes, if you fail CFA Level 1, you do have to pay again. That's why taking the time to prepare better this time matters.

How does the CFA compare to an MBA?

Compared to the chartered financial analyst (CFA), a master of business administration (MBA) provides a broader study of business principles. An MBA teaches students valuable analytical and leadership skills that prepare them for opportunities across a number of sectors and careers in finance.